Capri Holdings Limited $CPRI Shares Sold by Armistice Capital LLC

Key Points

• Armistice Capital LLC reduced its stake in Capri Holdings Limited by 69.0%, now holding 135,000 shares valued at approximately $2.66 million.
• Several hedge funds have increased their positions in Capri, with notable gains including 80.6% from Integrated Wealth Concepts LLC and 28.2% from Northern Trust Corp.
• Capri reported $0.50 earnings per share, surpassing estimates significantly, despite a 6.0% decline in revenue year-over-year.

Armistice Capital LLC lessened its holdings in shares of Capri Holdings Limited (NYSE:CPRI - Free Report) by 69.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 135,000 shares of the company's stock after selling 300,000 shares during the period. Armistice Capital LLC owned 0.11% of Capri worth $2,664,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Capri during the 1st quarter valued at about $30,000. Allspring Global Investments Holdings LLC bought a new position in Capri in the 1st quarter worth about $826,000. Bayesian Capital Management LP bought a new position in Capri in the 4th quarter worth about $767,000. Cambridge Investment Research Advisors Inc. grew its position in Capri by 14.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,420 shares of the company's stock worth $363,000 after purchasing an additional 2,271 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Capri by 6.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,070,258 shares of the company's stock worth $21,116,000 after purchasing an additional 66,173 shares during the last quarter. Institutional investors own 84.34% of the company's stock.

Capri Price Performance

Shares of Capri stock traded up $0.47 on Wednesday, hitting $21.06. The company had a trading volume of 1,868,374 shares, compared to its average volume of 3,349,306. The business has a 50-day simple moving average of $19.60 and a 200-day simple moving average of $18.48. The company has a debt-to-equity ratio of 3.97, a current ratio of 1.17 and a quick ratio of 0.61. The company has a market cap of $2.51 billion, a PE ratio of -2.24, a PEG ratio of 0.44 and a beta of 1.75. Capri Holdings Limited has a 52 week low of $11.86 and a 52 week high of $43.34.

Capri (NYSE:CPRI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.37. The business had revenue of $797.00 million during the quarter, compared to analysts' expectations of $773.18 million. Capri had a negative net margin of 26.73% and a negative return on equity of 53.50%. The business's revenue was down 6.0% on a year-over-year basis. During the same period last year, the firm posted $0.04 earnings per share. Research analysts expect that Capri Holdings Limited will post 0.98 EPS for the current fiscal year.

Analyst Ratings Changes

CPRI has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Capri from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Zacks Research upgraded shares of Capri from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Telsey Advisory Group restated a "market perform" rating and issued a $22.00 target price (up previously from $20.00) on shares of Capri in a research report on Wednesday, August 6th. JPMorgan Chase & Co. upgraded shares of Capri from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $21.00 to $30.00 in a research report on Wednesday, August 13th. Finally, UBS Group upped their target price on shares of Capri from $18.00 to $23.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $24.08.

Capri Company Profile

Capri Holdings Limited designs, markets, distributes, and retails branded women's and men's apparel, footwear, and accessories in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia. It operates through three segments: Versace, Jimmy Choo, and Michael Kors. The company offers ready-to-wear, accessories, footwear, handbags, scarves and belts, small leather goods, eyewear, watches, jewelry, fragrances, and home furnishings through a distribution network, including boutiques, department, and specialty stores, as well as through e-commerce sites.